Markets may open subdued after recent rally

Indian benchmark indices are expected to open soft as cues from Asian peers are subdued and SGX Nifty is under some pressure trading at 10,260 with loss of 22 points. 

Stocks like ACC, Axis Bank, Bajaj Auto, Tata Sponge, Wipro, will be in focus today as they are expected to announce earnings today.  

Asian stock markets were subdued in early deals on Tuesday. The  Nikkei 225 was just above the neutral line, whereas Hong Kong’s Hang Seng and  China’s Shanghai Composite have dipped 0.22% and 0.21%, respectively.    

Back home, bulls lit fireworks on Dalal Street as benchmark indices registered fresh record highs at the start of Diwali week. The Nifty50 index ended the session above 10,200 mark for the first time ever, courtesy gains in index pivotals like Bharti Airtel, Vedanta and Mahindra and Mahindra. The BSE Sensex settled at 32,634 with gains of about 201 points. On the macroeconomic front, the WPI-based inflation eased to 2.6% in September. 

On Wall Street, all the three major indices once again climbed to new record closing highs as investors looked ahead to key corporate earnings reports that could set the tone for the indices. The Dow Jones Industrial Average edged up 85 points to close at 22,957. The tech-laden Nasdaq Composite added 18 points to finish at 6,624 and the S&P 500 gained 4 points to close at 2,558.   
  
The European indices oscillated on a sideways trend throughout Monday’s session and ended the day with mixed results. The German DAX inched up 0.09% and the French CAC 40 Index declined 0.21%, while the FTSE 100 of the UK slipped 0.11%